New Issue: Linn Energy seals $305 million placement of class A and B units

By Sheri Kasprzak

New York, Oct. 24 - Linn Energy, LLC completed a $305 million private placement with a group of investors led by Zimmer Lucas Partners, LLC, GPS Partners LLC and Lehman Brothers MLP Partners, LP.

The investors bought 5,534,687 class A trust units at $21.00 each and 9,185,965 class B units at $20.55 each.

The other investors included Principal Strategies Group of Goldman, Sachs & Co., Magnetar Capital, Alerian Capital Management LLC, RCH Energy and Strome Investment Management, LP.

Proceeds will be used to repay in full the company's $250 million bridge facility and $55 million in borrowings under its revolving credit facility.

Linn Energy, based in Pittsburgh, is an oil and natural gas development and acquisition company.

Issuer:	Linn Energy, LLC
Issue:	Class A and B trust units
Amount:	$305 million
Units:	5,534,687 class A units; 9,185,965 class B units
Price:	$21.00 for class A; $20.55 for class B
Warrants:	No
Investors:	Zimmer Lucas Partners, LLC (lead); GPS Partners LLC (lead); Lehman Brothers MLP Partners, LP (lead); Principal Strategies Group of Goldman, Sachs & Co.; Magnetar Capital; Alerian Capital Management LLC; RCH Energy; Strome Investment Management, LP
Settlement date:	Oct. 24
Stock symbol:	Nasdaq: LINE
Stock price:	$22.99 at close Oct. 24

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